Never Lose Again

[es/pip]

current trade

not sure if i will be able to hold this all the way--------- need to sleep at some point----




changed target

that didn't go exactly the way that i had planned

out at 132.84

[MightyOne]

Here's a screenshot of my 3rd attempt on ZL after screwing up royally on the first two which ended up in profit had i timed it correctly on entry and staying in. Anyway, that's the past and so here goes. 1st arrow is entry and 2nd arrow is exit. There was about a 15 pip drawdown. Please critique...

it looks ok to me if we are seeing the same thing

draw lines on your chart of where u have the zlines that made you make your decisions

I'm looking at the top gray line as the z-line.

i agree with the exit----just trying to see what you see


what were you looking at to make you want to go long?

That's the problem. I have no idea how to get into a trade. I'm guessing that PIN bar at the bottom with a bit of confirmation on the next (entry) bar?

just to say it again---- i do this a little different than Mo and Dragon

i was watching this one as well but was already long the pound and ej at the time so i passed on it

this is how i see it

No mercy

[zapzinig]

My 3 zline trades for today. 201 pips

--ZZ

[TheRumpledOne]

Cool FX widget.

http://www.dailyforex.com/forex_text.aspx?id=281

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[es/pip]

My 3 zline trades for today. 201 pips

--ZZ

you are killin it

nice trading

i had almost ( dif target) the same exact trade on the pound

[Patch]

Good morning prochargedmopar

I've had a lot of late nights and early mornings, and up to page 221 of this thread so far. Great Great trading ideas and information. Thank you to all who have posted at NLA !!! The more charts the better.

On 2009.02.21, proch, you posted a chart with the 3lzz multimeter on the bottom. I found that last night in my reading a couple pages ago and put it on my chart immediately. I was up for another two hours last night reading and watching the meter. I thought an indicator would light up with a 3 because one went off on the pound/buck last night on the M1. nada. Could you post a shot of your settings for this meter please? Any ideas? Has TRO updated this from its inception?

Love reading your posts PRO.
Patch, in VA

[cfabian]

Last night trade...
Had 20 pip hard stop. -18 max DD.
It touched 4H ZL (95 pip from my entry), but went to sleep and didn't place take profit. Closed it this morning with +37.

Still demo trading.

es/pip, MO I'm having more confidence in this system, thanks for your support... I just wonder if you can post an example where in your timeframe looks like a valid and strong "setup" while in higher timeframe it dictates the opposite. This is something I still need to get the feel of.

Cheers

[es/pip]

Last night trade...
Had 20 pip hard stop. -18 max DD.
It touched 4H ZL (95 pip from my entry), but went to sleep and didn't place take profit. Closed it this morning with +37.

Still demo trading.

es/pip, MO I'm having more confidence in this system, thanks for your support... I just wonder if you can post an example where in your timeframe looks like a valid and strong "setup" while in higher timeframe it dictates the opposite. This is something I still need to get the feel of.

Cheers

for me anyway

i am not really sure how to explain it by putting it into words but i will try.

i take the pair i am looking at and i flip thru my different time frames. i look to see on each time frame where the momentum is, where we just came from, who just got zl'ed and where we are most likely to go, which takes roughly 30 secs.

i look to see where the momentum is, where it started and what happened in the process of the move. did it increase or decrease as it came into a held profit area? Where are the next group of traders still sitting with a profit? If this holds where are we going next?

what does it look like on the weekly, daily h4 etc etc. If i see something on the 15 i like and then see something that contradicts that on the h1 or whatever then i will pass. If it is not very clear then i do not take it. When i look at the chart 1 of 2 things happens-----1 it jumps right out as being very clear of what i think is happening -----2 it has no appeal its just kind of blah------ if its blah then i do not trade.


sigh

i really cant explain it in words

pretty sure that didn't help very much

edit----------------

in fact i may delete this whole post

[zapzinig]

Last night trade...
Had 20 pip hard stop. -18 max DD.
It touched 4H ZL (95 pip from my entry), but went to sleep and didn't place take profit. Closed it this morning with +37.

Still demo trading.

es/pip, MO I'm having more confidence in this system, thanks for your support... I just wonder if you can post an example where in your timeframe looks like a valid and strong "setup" while in higher timeframe it dictates the opposite. This is something I still need to get the feel of.

Cheers

for me anyway

i am not really sure how to explain it by putting it into words but i will try.

i take the pair i am looking at and i flip thru my different time frames. i look to see on each time frame where the momentum is, where we just came from, who just got zl'ed and where we are most likely to go, which takes roughly 30 secs.

i look to see where the momentum is, where it started and what happened in the process of the move. did it increase or decrease as it came into a held profit area? Where are the next group of traders still sitting with a profit? If this holds where are we going next?

what does it look like on the weekly, daily h4 etc etc. If i see something on the 15 i like and then see something that contradicts that on the h1 or whatever then i will pass. If it is not very clear then i do not take it. When i look at the chart 1 of 2 things happens-----1 it jumps right out as being very clear of what i think is happening -----2 it has no appeal its just kind of blah------ if its blah then i do not trade.


sigh

i really cant explain it in words

pretty sure that didn't help very much

edit----------------

in fact i may delete this whole post

es/pip:

your explination is clear to me.

cfabian:

I was having trouble deciding what to do if there was conflict on higher time frames. I decided to focus on just the H1 and just the GBP/USD.

I went back 2 years and started drawing z-lines on H1 charts, not even trying to determine what was happening on the H4 or D1.

I looked at M15 but they did not hold up as well on their own, they need higher time frame guidance for direction.

I am just focusing on H1.

Draw some zlines for yourself on 20-30 days of charts. Plan your exits, another zline or large momo bar in your favor.

Then from what you see as a zline(held profit), you will be able to calculate your accuracy over time.

When you can consistantly pick out entries that will not stop you out, then try your entries real-time with a 20-30 pip stop and micro lots.


--ZZ

[kc8flq]

edit----------------

in fact i may delete this whole post

Don't delete your post es/pip. Every post you've made has helped.
I took a break from this thread for a cpl months because I was getting discouraged with z-lines.
Then I happened to revisit it last week reading from a few days before and a cpl of your posts just made something click upstairs.

Now I have to go back and reread the thread starting from where MO started, it may just hit me like a brick wall.

Happy Pippin'
KC